Corning Incorporated (NYSE:GLW) Stock Holdings Lifted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,285,990 shares of the electronics maker's stock after buying an additional 303,607 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.62% of Corning worth $251,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GLW. Sound Income Strategies LLC grew its holdings in shares of Corning by 76.7% during the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker's stock worth $25,000 after buying an additional 227 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Corning during the fourth quarter worth about $25,000. Asset Planning Inc purchased a new stake in shares of Corning during the fourth quarter worth about $29,000. Mainstream Capital Management LLC purchased a new stake in shares of Corning during the fourth quarter worth about $35,000. Finally, JFS Wealth Advisors LLC grew its holdings in shares of Corning by 171.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 810 shares of the electronics maker's stock worth $38,000 after buying an additional 512 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Oppenheimer reduced their target price on Corning from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their target price on Corning from $62.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Mizuho set a $52.00 target price on Corning in a research report on Tuesday, April 15th. HSBC upgraded Corning from a "hold" rating to a "buy" rating and increased their target price for the stock from $51.00 to $60.00 in a research report on Thursday, January 30th. Finally, Barclays reduced their target price on Corning from $53.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Corning presently has an average rating of "Moderate Buy" and an average price target of $53.08.

Corning Trading Down 0.4%

NYSE GLW traded down $0.17 during mid-day trading on Friday, hitting $48.38. The company's stock had a trading volume of 4,889,753 shares, compared to its average volume of 5,972,750. Corning Incorporated has a 52-week low of $35.40 and a 52-week high of $55.33. The stock's fifty day simple moving average is $44.78 and its two-hundred day simple moving average is $47.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The firm has a market capitalization of $41.44 billion, a P/E ratio of 83.42, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Corning had a net margin of 3.86% and a return on equity of 15.10%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the firm posted $0.38 earnings per share. Corning's revenue for the quarter was up 12.9% compared to the same quarter last year. Research analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, May 30th. Corning's payout ratio is 215.38%.

Insider Transactions at Corning

In related news, VP John Z. Zhang sold 8,000 shares of Corning stock in a transaction on Monday, May 12th. The shares were sold at an average price of $46.91, for a total transaction of $375,280.00. Following the sale, the vice president now owns 9,610 shares of the company's stock, valued at $450,805.10. The trade was a 45.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael Alan Bell sold 20,262 shares of Corning stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $44.06, for a total transaction of $892,743.72. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.